The State’s first farmer producers company sponsored by the National Bank for Agriculture and Rural Development (NABARD), registered under the Indian Companies Act 1956, came into being at Nachalur village in Karur district on Thursday.

The company has paved the way for farmers turning traders to market their products at a remunerative price. The Nachalur Farmers Producers Company Limited, with a paid up capital of Rs. 9.90 lakh and 120 equity shareholders, aimed to get remunerative price for the farmers even as it strove to provide consumers better quality products at affordable cost. Karur Collector S. Jayandhi handed over the NABARD’s sanction letter of Rs. 23 lakh credit to the company for establishing a seed processing unit.

The unit plans to supply quality seeds to farmers to undertake System of Rice Intensification method of paddy cultivation. Ms. Jayandhi, who formally inaugurated the company, said that farmers joining hands to overcome difficult situation was a welcome development that could be replicated all over the State.

With a sense of ownership, the farmers could concentrate on improving their economic condition in a more diverse manner than just raw agriculture.

The State government was always ready to help the farmers improve their revenue generation processes,. Ms. Jayandhi said their transformation from being a farmer to a trader would definitely bestow numerous benefits on them.

The Rs.23-lalk credit would include a grant-in-aid component for purchasing office automation equipment. The company has already bagged the dealership for Nagarjuna Fertilizers and was all set to distribute fertilizers and pesticides to farmers in the region, according to Managing Director G. Karikalan, who himself is a farmer.